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China's M2 up 13.6% Y-O-Y in Dec

Jan. 9, 2012 (China Knowledge) - China's M2, a broad measure of money supply, was RMB 85.16 trillion at the end of December last year, up 13.6% compared with two years ago, according to statistics released by the People's Bank of China (PBOC) yesterday.

The growth rate was 0.9 percentage points higher than that at the end of November.

M1, which includes deposits in withdrawal-on-demand accounts and cash in circulation, had risen 7.9% year on year to RMB 28.98 trillion at the end of December.

M0, or cash in circulation, had increased 13.8% from two years earlier to RMB 5.07 trillion at the end of last month.

The central bank also said that the country's new RMB-denominated loans were RMB 640.5 billion in December, RMB 182.3 billion more than that in the same month of 2010. In the whole of 2011, the country's new RMB loans amounted to RMB 7.47 trillion, RMB 390.1 billion less than in 2010.

China saw its outstanding RMB loans had grown 15.8% year on year to RMB 54.79 trillion at the end of last month.

As of the end of December, the country's outstanding RMB deposits had increased 13.5% year on year to RMB 80.94 trillion. The country's new RMB deposits increased by RMB 9.63 trillion, RMB 2.29 less than that in 2010.

The PBOC also said that China's RMB cross-boarder trade settlements totaled RMB 2.08 trillion last year. No comparable figures were given in the statement.

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